Nordea Bank Abp (NDA_SE) Q2 2026 Earnings Call

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WEBVTT 00:00:00.051 -- 00:00:05.232 Good morning and welcome to Nordea's second quarter 2026 results. 00:00:05.232 -- 00:00:08.133 I'm Ilkka Ottala, head of investor relations. 00:00:08.133 -- 00:00:13.194 As usual, we'll start with a presentation by Group CEO Frank van Jensen, followed 00:00:13.194 -- 00:00:17.155 by a Q&A session with Frank and Group CFO Ian Smith. 00:00:17.155 -- 00:00:21.436 Please remember to dial into the teleconference to ask questions. 00:00:21.436 -- 00:00:25.096 With that, Frank, please go ahead. 00:00:33.700 -- 00:00:38.464 Good morning. Today we have published our results for the second quarter of 2026. 00:00:38.464 -- 00:00:39.905 This 00:00:39.905 -- 00:00:45.309 was again a strong quarter for Nordea. We drew good momentum across 00:00:45.309 -- 00:00:50.994 business. We attracted new customers and deepened existing relationships. 00:00:50.994 -- 00:00:55.698 And we achieved strong growth in savings and investments. 00:00:55.698 -- 00:01:02.430 All of this ensured we were firmly back to year-on-year income growth for the quarter. 00:01:02.430 -- 00:01:07.552 In fact, total income exceeded 3 billion euros and we were last there 00:01:07.552 -- 00:01:12.414 in 2024 at the peak of the higher rate environment. 00:01:12.414 -- 00:01:18.036 This highlights not only the strength of our diversified business model, but also 00:01:18.036 -- 00:01:22.617 our focused, growth-oriented 2030 strategy. 00:01:23.397 -- 00:01:27.260 We generated strong fee income and utter ancillary income. 00:01:27.260 -- 00:01:33.344 And importantly, net interest income has now started to move in the right direction. 00:01:33.344 -- 00:01:39.069 Moreover, this quarter, we also grew with income faster than cost, which is always 00:01:39.069 -- 00:01:44.193 our aim. It's...